Definitions

from The American Heritage® Dictionary of the English Language, 4th Edition

intransitive v. To exert an influence: forces operating on the economy.

intransitive v. To produce a desired or proper effect: a drug that operates quickly.

intransitive v. To carry on a military or naval action or campaign.

intransitive v. Informal To conduct business in an irregular or devious manner: drug dealers operating in residential and urban areas.

transitive v. To control the functioning of; run: operate a sewing machine.

transitive v. To conduct the affairs of; manage: operate a business.

from Wiktionary, Creative Commons Attribution/Share-Alike License

v. To perform a work or labour; to exert power or strength, physical or mechanical; to act.

v. To produce an appropriate physical effect; to issue in the result designed by nature; especially (Med.), to take appropriate effect on the human system.

v. To act or produce effect on the mind; to exert moral power or influence.

v. To perform some manual act upon a human body in a methodical manner, and usually with instruments, with a view to restore soundness or health, as in amputation, lithotomy, etc.

v. To deal in stocks or any commodity with a view to speculative profits.

v. To produce, as an effect; to cause.

v. To put into, or to continue in, operation or activity; to work; as, to operate a machine.

from the GNU version of the Collaborative International Dictionary of English

intransitive v. To perform a work or labor; to exert power or strength, physical or mechanical; to act.

intransitive v. To produce an appropriate physical effect; to issue in the result designed by nature

intransitive v. To act or produce effect on the mind; to exert moral power or influence.

intransitive v. To perform some manual act upon a human body in a methodical manner, and usually with instruments, with a view to restore soundness or health, as in amputation, lithotomy, etc.

intransitive v. To deal in stocks or any commodity with a view to speculative profits.

transitive v. To produce, as an effect; to cause.

transitive v. To put into, or to continue in, operation or activity; to work.

from The Century Dictionary and Cyclopedia

To perform or be at work; exert force or influence; act: with on or upon governing the object of the action: as, the sculptor operates on the clay or marble of which he makes his figures; a machine operates on the raw materials submitted to it.

Specifically, in surgery, to perform some manual act upon the body of the patient, usually with instruments, with a view to restore soundness or health, or otherwise to improve the physical condition.

To produce an effect; act; work: used absolutely.

To produce the desired or appropriate effect; act effectively; be effectual in producing the result intended: as, the medicine operated well.

To carry on speculative transactions; buy and sell speculatively: with in: as, to operate in stocks; to operate in oil.

Synonyms 3 and 4. Act, Work, etc. See act.

To effect; produce by action or the exertion of force or energy; accomplish as an agent; cause.

To direct or superintend the working of; cause to move or perform the acts desired; work: as, to operate a machine.

Unless the segregated context in which they operate is also altered, however, speculative financial bubbles will persist and their uneven effects will continue to fall on vulnerable communities of color who have long paid the high costs of hypersegregation in the United States, America's own brand of Apartheid.